The Influence of Networks and Social Capital on Entrepreneurs [5]
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论文字数:4422论文编号:org201406111729136351语种:英语 English地区:中国价格:免费论文
关键词:Influence of NetworksSocial Capitalon Entrepreneurs管理策略
摘要:Social capital and network plays a key part in entrepreneurial ship. Firstly, Network and social capital not only could help entrepreneurs discover the entrepreneurial opportunity, but also stimulate entrepreneurs to have entrepreneurial assessment and make use of entrepreneurial opportunity through offering and expanding key information and important resources. Secondly, the social capital of entrepreneurs decisively influences the entrepreneurial financing resources. The content of social network decisively influences the entrepreneurs’ direction to seek for help.
from the financing organizations. Even in America, only .0.1% of entrepreneurs could raise capital in the beginning of entrepreneurial process. (Yan and Yang, 2005) Most of the entrepreneurs are more inclined to seek for help from families, friends, and acquaintances after using up all their own money. In other works, the social network of entrepreneurs becomes the main resources to raise capital to start and develop entrepreneurial activity. One search shows that 50% of the finance resource of entrepreneurs come from families, and then 39% of finance resource of entrepreneurs come from social network based on relationships,
For entrepreneurs, it is more easily to persuade social network members into investing than to persuade strangers. During the process of raising capital, even if entrepreneurs fail to raise capital from the social network, they could also dig other potential investors from the social network members’ acquaintances. The reason is that the entrepreneur is inclined to be trusted by potential investors through the social network members’ recommendation.
2.2. The influence of Social capital and network on financing timetable
Under the sophisticated and complex economic environment, entrepreneurial opportunity is fleeting. Therefore, it is very important for entrepreneurs to make full use of entrepreneurial opportunity, and time is a key factor during the process. With the time going, the entrepreneurial opportunity may become entrepreneurial trap. (Kristiansen,2004 ). For example, when computers were very popular around the world, many entrepreneurs are more likely to take ventures. However, when there are two computer companies, there are too supplying than demanding. And most of companies which followed the trend did not make money. In terms of time, financing organization and venture investors is not the best choice for entrepreneurs attributing to labor-intensive procedure. When they finish assessment of entrepreneurial activity, the opportunity has already flies. Therefore, entrepreneurs are more likely to choose the financing support from relative relationships with simple procedures.
Social capital not only includes social network, but also includes mutual trust among network members.( Bruderl and Presidorfer ,1998) Trust is an encouragement and power for entrepreneurs, and is also a favorable resources that worthy to be treated as treasures. Trust among social network could help entrepreneurs easier to get the finance support form network members. On the one hand, it could help entrepreneurs to raise capital which is difficult to get from big finance organization; on the other hand, it helps entrepreneurs to make the financing process simpler and easier. It actually helps entrepreneurs save a lot of time to collect enough money to develop company soon in a limit time.
3. The influence of social network and social capital on entrepreneurial resources.
Entrepreneurial resources are involved in labor resources, technique resources, financing resources, information resources, relationship resources, and network resources and so on. When entrepreneurs consider starting venture, they should take entrepreneurial resources into consideration. . Besides, entrepreneurs should also have the capacity of gaining those resources in right way. Relationship network resource is the most important resources
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